FAC 023 COMPREHENSIVE EXAMINATION TEST 2026 QUESTIONS AND ANSWERS FULLY SOLVED

FAC 023 COMPREHENSIVE EXAMINATION
TEST 2026 QUESTIONS AND ANSWERS
FULLY SOLVED

●● FAR Part 2.
Answer: Definitions of Words and Terms


●● FAR Part 3.
Answer: Improper Business Practices & Personal Conflicts of Interest


●● FAR Part 4.
Answer: Administrative Matters


●● FAR Part 5.
Answer: Publicizing Contract Actions


●● FAR Part 6.
Answer: Competitive Requirements


●● FAR Part 7.
Answer: Acquisition Planning

,●● FAR Part 8.
Answer: Required Sources of Supplies and Service


●● FAR Part 10.
Answer: Market Research


●● FAR Part 12.
Answer: Acquisition of Commercial Items


●● FAR Part 13.
Answer: Simplified Acquisition Procedures (SAP)


●● FAR Part 15.
Answer: Contract by Negotiation


●● FAR Part 16.
Answer: Types of Contracts


●● FAR Part 19.
Answer: Small Business Programs

,●● FAR Part 31.
Answer: Contract Cost Principles & Procedures


●● FAR Part 33.
Answer: Protests, Disputes, and Appeals


●● FAR Part 42.
Answer: Contract Administration & Audit Services


●● FAR Part 44.
Answer: Subcontracting Policies & Procedures


●● FAR Part 46.
Answer: Quality Assurance


●● FAR Part 49.
Answer: Termination of Contracts


●● FAR Part 50.
Answer: Extraordinary contractual actions and safety act


●● FAR Part 51.

, Answer: Use of Government Sources by Contractors


●● FAR Part 52.
Answer: Solicitation Provisions and Contract Clauses


●● FAR Part 53.
Answer: FORMS


●● Contracting Life Cycle Phases.
Answer: 1. Pre-Award
2. Award
3. Post Award


●● Communication and Decision Making Bias.
Answer: 1. Minimize influence of Personal biases
2. Maximize the likelihood of a successful result.
3. Facilitate communication among affected parties.


●● Minimize the Effect of Personal Biases.
Answer: The contracting professional should strive to minimize the
influence of personal biases.